Morning Business Report: Nike’s shift, Apple TV+ losses

Nike is making a major shift in its online marketplace, moving to a full-price model and reducing discounts.

(LILAMAX)- Nike is making a major shift in its online marketplace, moving to a full-price model and reducing discounts. The company expects a drop in sales as it faces tariffs and declining consumer confidence. As part of its turnaround strategy, Nike is cutting back on markdowns and promotions.

Meanwhile, Apple may be great at making money, but Apple TV+ is struggling. Reports indicate the streaming service is losing over $1 billion annually, prompting CEO Tim Cook to take a tougher stance on controlling costs. Apple TV+ continues to struggle in audience reach, accounting for less than 1% of total streaming viewership.

Stocks attempted a rally on Thursday but ended lower, as investor concerns over tariffs and economic slowdown overshadowed earlier gains fueled by the Federal Reserve.

In the world of food delivery, the “Buy Now, Pay Later” model is expanding. DoorDash users can now split payments into four interest-free installments or schedule custom payments. Additionally, Grubhub and Amazon have partnered to offer Amazon Prime members a permanent, no-cost subscription to Grubhub+ food delivery service.

On the entertainment front, Disney’s long-awaited live-action Snow White hits theaters today. In a clever marketing tie-in, Allegra is sponsoring the film, with a special nod to the characters Sneezy and Sleepy. In a promotional spot, Sneezy blows out lanterns while Sleepy nearly falls off a log, only to be saved by Doc.